In our Feb. 18 issue, we wondered why
Krispy Kreme
unveiled plans for a new $30 million mixing plant, but didn’t put that expenditure anywhere on the balance sheet (see: “Debt? Who, Me?“). Within a fortnight of publication, executives at Krispy Kreme announced an abrupt about-face, saying they would use conventional “on the balance sheet” accounting for the new plant after all (see: “Krispy Kreme Changes Its Plant Financing“).

Last September, months before its stock plummeted on accounting woes, Irish pharmaceutical
Elan
raised Senior Editor
Elizabeth
MacDonald
Elizabeth MacDonald
‘s suspicions for funding some research and development through unconsolidated research entities (see: “Elan’s Spin“). Even the bluest of the blue-chips,
IBM
, hasn’t been able to resist the call of the wild ledger (see: “Recurring Gains?“).

Most writing about accounting tends to be dry-as-dust stuff aimed at the green-eyeshade crowd. We trust you won’t find that true of these stories, which encompass the best Forbes has offered on the subject over the past year.

All That Glitters 04.16.01
Symbol Technologies looks lustrous. But a lot of rust lies just beneath that shiny surface.

Aiding And Abetting 04.02.01
The SEC isn’t just going after companies that puff up their revenues. The new front in its earnings management campaign: customers who provide cover.

Was That Auditor’s Opinion Really Independent? 03.19.01
Take a close look at some audit disasters, and you may agree with the SEC’s outgoing chairman, Arthur Levitt: Accounting work and consulting work really shouldn’t be under the same roof.

Unhatched Chickens 02.19.01
CompuCredit counts tomorrow’s hoped-for profits as profits today. How does it even know what number to put down for its earnings?